Friday May 15, 4:29 pm Eastern Time
E-Data sees court order affecting stock
NEW YORK, May 15 (Reuters) - E-Data Corp. officials believe Friday's drop in the price of the company's stock is due to an opinion and order issued in its
lawsuit pending in the U.S. District Court for the Southern District of New York, the company said.
It said the order provides the court's interpretation of the scope of the claims of the Freeney Patent owned by the company, adding counsel is evaluating the opinion
to determine an appropriate course of action.
In late trading, E-Data stock was down $0.75 to $0.25 on a turnover of 1,009,500 shares.
E-Data noted this interpretation of the scope of its patent claims is required by the Supreme Court's decision in the Markman v. Westview Instruments Inc case.
In June 1997, a company spokesman described the company's suit as ''a landmark case for the validity of Internet patents.''
At that time, the Secaucus, N.J.-based company said it had settled with one of the defendants in its patent infringement suits, adding there were 12 defendants
remaining in the case before the U.S. District Court for the Southern District of New York and eight in the case before the U.S. District Court for the District of
Connecticut at that time.
In December 1996, the company said five original defendants in its suit had settled.
At that time, E-Data named the remaining defendants as Apogee Software Ltd, Broderbund Software Inc. (BROD - news), CompuServe Corp., CyberSource
Corp.; Internet Shopping Network, a subsidiary of USA Networks Inc. (USAI - news), Intuit Inc. (INTU - news), The Library Corp., McGraw-Hill Cos. Inc.
(MHP - news), Soft & Net Distribution SA, Softlock Inc., Telebase Systems Inc., a subsidiary of N2K Inc. (NTKI - news), Borders Group Inc.'s (BGP - news)
Waldenbooks and Ziff-Davis Publishing Corp.
More Quotes
and News:
Borders Group Inc (MI) (NYSE:BGP - news)
Broderbund Software Inc (Nasdaq:BROD - news)
E-Data Corp (OTC BB:GIFT - news)
Intuit Inc (Nasdaq:INTU - news)
McGraw-Hill Inc (NYSE:MHP - news)
N2K Inc (Nasdaq:NTKI - news)
USA Networks Inc (Nasdaq:USAI - news)
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